New Redacted ETFs Offer Broad Exposure Without Musk Companies
The actively managed funds offer broad exposure to the S&P 500 and Nasdaq-100 while excluding companies founded, controlled or led by Elon Musk.
Key takeaways
- XXSP excludes Tesla while investing across the S&P 500.
- XXQQ excludes Tesla and Space Exploration Technologies Corp. from Nasdaq-100 exposure.
Subversive ETFs launched two actively managed funds on Oct. 9, offering exposure to the S&P 500 and Nasdaq-100 while excluding companies founded, controlled or led by Elon Musk.
The Subversive S&P 500 Redacted ETF (XXSP) invests across the S&P 500 but excludes Tesla. The Subversive Growth 100 Redacted ETF (XXQQ) excludes Tesla and Space Exploration Technologies Corp. from its Nasdaq-100 exposure.
Both funds will also screen out any other company Musk founds, controls or leads if it becomes eligible for their respective investment universes. Subversive said the funds are designed to let investors remove that exposure while maintaining broad market exposure.
This article was produced with the help of AI technology. Source: Yahoo Finance
